8common wins NSW Department of Industry’s Expense Management System tender

• 8common wins NSW Department of Industry (Industry) EMS tender
• First NSW government agency to sign up to 8common’s integrated travel and expense management solution Expense8
• The three year contract with Industry will yield an annual recurring revenue (ARR) of $147,000 together with expense and travel related transaction revenues

Sydney, Australia – 24 October 2016: Software technology group 8common Limited (ASX: 8CO) today announced its subsidiary Business Information Services has won the NSW Department of Industry’s Expense Management System tender. 8common will deliver its integrated travel and expense management solution, Expense8, on a software as a service basis to Industry.
 
The initial contract is for a period of three years with provisions for extension for another two years. The Industry win will add to 8common’s committed annual recurring revenue (ARR) growth and additional monthly transaction revenues with the pre-trip approval travel module.
 
Nick Gonios, CEO of 8common Limited, said, “We are delighted that the NSW Department of Industry has selected Expense8 as its expense management system. The tender win further expands our presence across government, and is testament to 8common’s continuous commitment to the sector.”
 
Christopher Shermer, Head of Business Development, 8common Limited, said, “By automating expense management, 8common’s Expense8 solution significantly reduces the complexity and time spent managing expenses. We look forward to working with the NSW Department of Industry to streamline its expense management processes.”
 
Expense8 is an integrated software solution that streamlines the accounting, reporting, tax compliance (GST, FBT) and governance of employee generated expenses and corporate travel bookings. Tailored for each client, Expense8 provides organisations with all the tools needed for employees to plan and book business trips; and reconcile travel and corporate expenses.
 
Expense8 government customers include Federal Department of Finance, Department of Prime Minister and Cabinet, NSW Department of Education, NSW Police, whole of Northern Territory Government, and Transport for NSW.
 
About 8common Limited and Expense8
The 8common Group (www.8common.com) is listed on the Australian Securities Exchange (ASX:8CO). It is an enterprise software company delivering performance and productivity products to government agencies, large corporates and multinationals globally. Expense8 is an integrated software solution that streamlines the accounting, reporting, tax compliance (GST, FBT) and governance of employee generated expenses and corporate travel bookings.
 
MEDIA CONTACTS:
Corrie McLeod/Amy Rathbone
Espresso Communications
02 8016 2200
8common@espressocomms.com.au